OMB plays Santa this year with a new set of grants regulations designed to reconcile conflicting rules, streamline reporting, and focus more on performance across grantmaking agencies. OMB has had a draft version of the rules out on the street for months, and it becomes official on December 26.
The new rules were developed over two years. OMB worked with COFAR, the cross-agency Council on Financial Assistance Reform as well as grants recipients in all categories. The new guidance addresses (among other things):
- Conflicting rules
- Performance rather than compliance
- Better use of technology
- Choosing audit candidates based on risk
Thanks, OMB, for extending the season of giving.